The markets have taken a bashing of late and extremely oversold. Silver has had 10 straight down day and you would expect a bounce. Two nights ago there was a pinbar showing support and then the following day, a green bull bar. I bought at the close of this bar at 28.05 and it rode up nice today. I closed out today at 28.76 for 71 points.
I closed for two reasons... the market is still in a downtrend and after a weekend, anything can happen with the markets.
It was nice to grab 71 po
May 18, 2012
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I decided that I was going to short silver today, my entry was at 3200 with a stop above the previous high at 3220. My target was 3180 which is a 1:1 trade. Also 3180 was a support level which you can see in the 15 minute chart. You would expect a bounce at this level but you never know how far so I rather take my profit here.
I have found that by taking at least a 1:1 trade you have a chance of making money. If you get into the habit of any less than this, you will be sure to lose mo
March 29, 2012
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